TOTALENERGIES SE: South Korea: TotalEnergies Signs LNG Long-Term Sale Contract with Hanwha Corporation
24 Mai 2022 - 8:12AM
UK Regulatory
TIDMTTE
Against the backdrop of World Gas Conference 2022, TotalEnergies
(Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the signing of a Sale
and Purchase Agreement (SPA) with the Korea's Hanwha Energy
Corporation for the supply of 600,000 metric tons of liquefied
natural gas (LNG) per year over 15 years, starting in 2024.
The LNG will be sourced from TotalEnergies' global LNG
portfolio, delivered to the Tongyeong regasification terminal in
South Korea, and then used to supply Hanwha & HDC's greenfield
1 GW power plant currently under construction next to the
terminal.
"We are pleased to extend our long-standing cooperation with
Hanwha, with whom we are already partnering on the Daesan
petrochemical site, and in the United States for the development of
1.6 GW of renewables. With this new contract, TotalEnergies
increases its natural gas shipments to South Korea, the world's
third largest importer of LNG in 2021. Our Company is keen to
support the country's switch away from coal for power generation,
with both LNG supplies and renewables projects, such as our
significant "Bada" 2 GW offshore wind project," said Stéphane
Michel, President Gas, Renewables & Power at TotalEnergies.
"It is significant that we have secured business stability by
signing a long-term contract with our long-lasting partner
TotalEnergies, even though the volatility of the LNG market has
increased more than ever due to the recent unstable international
situation. It will serve as a great foundation for our Tongyeong
project, and I think the success of the Tongyeong project will have
a great impact on our future LNG businesses. Eventually in the long
term, the company will grow steadily with a business portfolio of
solar power, ESS, and LNG," said Jung In Sub, Chief Executive
Officer of Hanwha Energy Corporation.
***
TotalEnergies, The World's Third-Largest Low-Carbon LNG
Company
TotalEnergies is the world's third-largest low-carbon LNG
company, with a global market share of around 10% and a global
portfolio of nearly 50 Mt/y by 2025 thanks to its interests in
liquefaction plants in all geographies. The Company benefits from
an integrated position across the LNG value chain, including
production, transportation, trading, and LNG bunkering.
TotalEnergies ambition is to increase the share of natural gas in
its sales mix to 50% by 2030, reduce the gas value chain's carbon
emissions, eliminate methane emissions, and work with local
partners to promote the transition from coal to natural gas.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
@TotalEnergies | TotalEnergies | TotalEnergies |
TotalEnergies
Cautionary Note
The terms "TotalEnergies", "TotalEnergies company" or "Company"
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words "we", "us" and "our" may also
be used to refer to these entities or to their employees. The
entities in which TotalEnergies SE directly or indirectly owns a
shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies' financial results or activities is provided in the
most recent Registration Document, the French-language version of
which is filed by TotalEnergies SE with the French securities
regulator Autorité des Marchés Financiers (AMF), and in the Form
20-F filed with the United States Securities and Exchange
Commission (SEC).
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
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TotalEnergies
SOURCE: TotalEnergies SE
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